Business Support – Government and Helpful Resources for Funding and Advice
Setting up and running a UK business is a challenging but rewarding process. Now more than ever there are many things to consider and information on COVID-19 and Brexit are valuable for all businesses regardless of size or sector. There is a lot of support for businesses out there.
On one of the Governments websites, https://www.gov.uk/business-finance-support you can target the type of support you want by industry and region, tailored by your business’ stage of development and number of employees. The focus is to help small businesses (SMEs), entrepreneurs and socially minded enterprises find the support they need. Offering impartial advice and no cost business support.
There are also several government sites providing COVID – 19 and Brexit advice.
The Smart Team want to provide you with as full a service as possible, we have collated our top free resources to help across many facets of business support, funding and advice, including those on gov.uk
Government specific business support in our current uncertain times
Covid-19 business support
Probably the most important thing that is happening to UK businesses at the moment – and most frequently searched items across the web – is targeted support for businesses with regards to the pandemic and how to navigate the constant shift in tiers.
These are currently the most effective direct links to assistance in finance, employment, closures, and other restrictions:
Financial support for businesses during coronavirus (COVID-19).
https://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19
Financial support for small and medium businesses during coronavirus (COVID-19).
https://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19#support-for-small-and-medium-sized-businesses
Support for businesses affected by coronavirus restrictions.
https://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19#support-for-businesses-affected-by-coronavirus-restrictions
And a more general site where announcements tend to be first published.
https://www.gov.uk/coronavirus/business-support
Brexit business support
Following the end of the transition period on December 31st 2020, the United Kingdom completed its exit from the European Union. While there are no tariffs or quotas on the movement of goods between the UK and EU, doing business with Europe has changed. Businesses need to follow new rules on exports, imports, tariffs, data and hiring. Below are some of the government’s guidance and business support information regarding the new rules and regulations.
If you want to look at all the new rules that apply to your business, you, and your family, you can use the Brexit checker to get a personalised list of actions.
You will find the Brexit Checker at – https://www.gov.uk/transition
The most frequently searched topics include the following:
Check what you need to do to export to the EU from 1 January 2021 https://www.gov.uk/export-goods
Check what you need to do to import from the EU from 1 January 2021 https://www.gov.uk/import-goods-into-uk
Check how to trade or move goods into, out of, or through Northern Ireland https://www.gov.uk/government/collections/moving-goods-into-out-of-or-through-northern-ireland
Decide how you want to make customs declarations and whether you need to get someone to deal with customs for you https://www.gov.uk/guidance/appoint-someone-to-deal-with-customs-on-your-behalf
Check if you can use Common Transit to move your goods more quickly to the EU, and other European states
https://www.gov.uk/guidance/check-if-you-can-use-transit-to-move-goods-to-the-eu-and-common-transit-countries
Check if you need to pay a tariff on the goods you import from 1 January 2021
https://www.gov.uk/guidance/tariffs-on-goods-imported-into-the-uk
Check if you will need a licence to employ workers from the EU, other European states
https://www.gov.uk/guidance/recruiting-people-from-outside-the-uk
Check if you need new licences for any drug precursor chemicals you import or export
https://www.gov.uk/guidance/precursor-chemical-licensing
Check the rules for placing manufactured goods on the EU market from 1 January 2021
https://www.gov.uk/guidance/placing-manufactured-goods-on-the-eu-market
Check the new rules for unregistered design protection in the UK and EU https://www.gov.uk/guidance/changes-to-eu-and-international-designs-and-trade-mark-protection-after-the-transition-period
Encourage your employees to check if they need to apply to the EU Settlement Scheme https://www.gov.uk/settled-status-eu-citizens-families
FAQ’s specific to your region
https://www.gov.uk/transition-check/questions
Initial business support at start up
Setting up a business can be challenging, this can start with whether your desired company name is available, to more complex issues of intellectual property and employment.
What you need to do depends on your type of business, where you work and whether you take people on to help.
You will need to register your business. Most businesses register as a sole trader, limited company or partnership.
Setting up a business https://www.gov.uk/set-up-business is a good place to start. As well as registering your business the site covers the rules and responsibilities you have depending on what your business does. It covers where you work, taking on people to work with you and where you can get help and support.
You might want to consider applying for a government backed Start Up Loan of £500 to £25,000 to start or grow your business. Unlike a business loan, this is an unsecured personal loan; you will also get free support and guidance to help write your business plan, and successful applicants get up to 12 months of free mentoring. https://www.gov.uk/apply-start-up-loan
More specific Government start up and business support information on intellectual property, trademarks, licenses, limited companies etc. are found here:
Search the trademarks database
https://www.gov.uk/search-for-trademark
Licenses you need for different trades and sectors
https://www.gov.uk/licence-finder
Companies House Name Checker
https://find-and-update.company-information.service.gov.uk/company-name-availability
Register as an employer with HMRC
https://www.gov.uk/register-employer
Trademarks, copyright and intellectual property.
https://www.gov.uk/browse/business/intellectual-property
Opportunities for growth, investment and financial support for business
Businesses that fail to grow or adopt to change usually fail.
Growing your business through sales or profitability requires investment, you can do this by
- Reinvesting profits
- Borrowing
- Selling shares to investors
- Looking at other sources of finance, including government-backed schemes
There is a raft of information available for those who are looking to fund growth; if you want to tailor your search you could consider some of the Government, Government- supported and independent sources listed below.
Government Sources
Finance and support for business.
https://www.gov.uk/business-finance-support
Innovate UK is the UK’s innovation agency and provides networking collaboration and funding opportunities, business-led innovation and R&D.
https://www.gov.uk/government/organisations/innovate-uk
UK Research and Innovation (UKRI) is the national funding agency investing in science and research in the UK.
https://www.ukri.org/
UK Export Finance.
https://www.gov.uk/government/organisations/uk-export-finance
Knowledge transfer partnerships.
https://www.gov.uk/guidance/knowledge-transfer-partnerships-what-they-are-and-how-to-apply
Government supported and independent
Online gateway of free and paid-for mentors.
http://www.mentorsme.co.uk/
Find your local Growth Hub for business funding, support and guidance. https://www.lepnetwork.net/local-growth-hub-contacts/
An overview of the funding options available
https://thebusinessfinanceguide.co.uk/business-finance/
The UK Business Angels Association is the trade body for angel and early stage investing.
https://www.ukbaa.org.uk/
Better Business Finance was set up by a number of the major commercial banks to promote a safe, transparent and innovative banking and finance service.
http://www.betterbusinessfinance.co.uk/
The Business Growth fund is an equity and debt investor with backing from the major high street banks to support businesses that have outgrown angel funding but are not large enough to be able to access traditional private equity funding.
https://www.bgf.co.uk/
EISA supports and promotes policies and initiatives that facilitate the smooth flow of risk equity capital from private individuals to smaller companies.
https://eisa.org.uk/
The UK Crowdfunding Association purpose is the promotion of the interests of crowdfunding platforms, their investors, and clients.
https://www.ukcfa.org.uk/
The Smart Team
The Smart Team offers a range of financial leadership services. Our flexible business support model gives you a team of commercial professionals whose skills stretch across the wide spectrum of finance specialties. Our associates are ready to join your business on a flexible, part time basis or for a short-term project to supplement your existing team. We can help you to navigate the current uncertainty within the economy and with specific aspects of funding. Maybe you want to support your existing team with ongoing financial leadership or perhaps you are interested in our Virtual Finance Team? Contact
